Richard's Remarks

DANGER -- A primary bear market has been signaled according to Dow Theory. On May 1 the Dow Industrials rose to a high of 13279.32. The Transports failed by a wide margin to confirm. The two Averages then turned down and broke below their April lows. Under Dow Theory, this was confirmation that a primary bear market is in progress.

When you have a wild party at your house, there's always the next day, which is the day you hate. You hate it because it means cleaning up.

It's the same thing when a bull market ends. After the bull market party, as sure as night follows day, a primary bear market arrives. And that means clean up time in your house and on Wall Street. Bear markets can be messy and very painful. All the dirty water creeps out from the bottom of the dark closet. Some of it can be ... Log in or subscribe to continue reading.

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